DiamondBuzz
The right time to Increase De Beers stake: Botswana’s mines minister
Botswana’s mines minister Bogolo Kenewendo says it’s “absolutely” the right time to discuss the government increasing its 15 per cent stake in De Beers.
She indicated that Anglo American, which owns the other 85 per cent of De Beers, was moving closer to an initial public offering (IPO) and that Botswana was pushing for a larger stake.
Anglo announced last week that it was likely to write down the value of De Beers from its current $7.6bn, as a result of persistent weak diamond demand, especially in China.
Botswana’s diamond, which accounts for over 70 per cent of the country’s export earnings, has been severely hit by the global slump in demand.
In the last nine months of 2024 Debswana – its 50/50 joint venture with De Beers it sold $1.53bn of rough, down 52 per cent on the same period in 2023.
DiamondBuzz
QDE, Borsa Diamanti D’Italia Signed MoU To Bolster Trade and Expand Commercial Ties
The Two Exchanges Will Establish A Framework To Deepen Connection Across Their Respective Memberships, Exchange Invitations To Industry Events
The Qatar Diamond Exchange (QDE) has signed a memorandum of understanding with the Borsa Diamanti d’Italia to bolster trade and expand commercial ties between their members, , marking its first strategic alliance with a European bourse.
The agreement was signed by QDE Director Ghanim Nasser Al-Saadi and Italian Diamond Exchange President Luigi Cosma during the World Jewellery Confederation’s (CIBJO) 100th anniversary event in Vicenza, Italy.
Under the terms of the deal, the two exchanges will establish a framework to deepen connection across their respective memberships, exchange invitations to industry events, and facilitate access to tenders, auctions, and viewings through reciprocal visits.
The partnership also aims to boost consumer confidence in natural diamonds and colored gemstones by reinforcing compliance with global sector standards, including guidelines set by the Responsible Jewellery Council (RJC) and the World Diamond Council’s (WDC) System of Warranties.
The deal follows similar pacts signed by the QDE last month with diamond bourses in Singapore, Shanghai, and Tokyo as part of an effort to broaden its global trading network.
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